Benzinga | Aug 4, 2021 05:25PM EDT

Ormat Technologies: Q2 Earnings Insights

Shares of Ormat Technologies (NYSE:ORA) fell in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share fell 48.89% year over year to $0.23, which missed the estimate of $0.25.

Revenue of $146,901,000 decreased by 16.01% from the same period last year, which missed the estimate of $151,460,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Ormat Technologies hasn't issued any revenue guidance for the time being.

Technicals

Company's 52-week high was at $128.87

52-week low: $53.44

Price action over last quarter: Up 0.36%

Company Profile

Ormat Technologies derives approximately 80% of its revenue from building and operating geothermal plants and the rest from manufacturing geothermal and recovered energy equipment. Nearly two thirds of its capacity is in the United States, with the balance in Africa and Central America. Nearly all the plants have long-term contracts with local utilities.